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Different media used by public sector banks across India and their relevance.

Reach of media Impact on the urban customer Emerging media platforms

With expansion being the driving force, the public sector banks are increasing their advertisement spent and devising innovative advertisements strategies with new themes to reach out their targeted markets. SBI said that the bank is likely to spend Rs. 250 Crore, on advertisement during current fiscal as a mark of Rs. 200 Crore spend last year. Reach of Media: Following are some of the Means for advertising taken up by Public Sector banks in India are 1. 2. 3. 4. 5. 6. 7. Advertising on television. Advertising in newspaper. In journals and magazines. Outdoor advertising hoarding etc. Online marketing/Email yes buy very few. Pamphlets propaganda. Publishing news in newspapers.

The Most Effective Promotional Tools for Banking Services: Weighte d Mean Score 3.84 3.59 3.43 3.26 2.89 2.85 2.85 2.66 2.59 2.32 2.29 2.25 0.527

Ranks 1 2 3 4 5 6 7 8 9 10 11 12

Name of Promotional tool Advertising on television Advertising in newspaper Personal selling/Personal contact In journals and magazines Tele calling by sales person Outdoor advertising hoarding etc. Schems/Gifts/Prizes for customers Public relations/Events/Programs Online marketing Pamphlets/Propaganda Letters/Mail with relevant material Publicity Standard Deviation

The reach of the media is purely studied from the point of view of the urban customer who are primarily more affectionate towards the television ads, print media and out of home advertising. The other latent segment of media being the tele calling and the personal selling are something that the public sector banks are still on a lag as these are majorly dominated by the private banks. Comparative look on the Exposure to Promotional Tools for private sector banks: (out of 255 respondents) Promotional Tools Advertising on TV Advertising in Newspapers Outdoor Advertising Online Marketing Total Responses 169 132 53 18 Percentage 66.27 51.76 20.78 7

The comparative looks suggests that the exposure to Adverting on TV and newspaper is the dominant in the field of advertising in public sector banks but also to notice that the other upcoming field is of online marketing which is a rapidly growing segment. Media Consumption based analysis of the Bank: No. Of Respondents 65 34 127 74

Influencer Advertisement Through Salesperson By Friend/Relative Others

Percentage 21.67 11.33 42.33 24.67

The media consumption data shows that the public sector banks are more heavily recognized cause of their advertisements and via word of mouth. The respondents look agree with the statement that the information provided by Public Sector Banks is more reliable than private sector banks because that is truer and complete as the Govt. Banks are more reliable than any other private player.

Also the other two modes of advertising that the public sector banks are starting to take up as a after effects of the success that has been derived by the private sector banks from using the modes are: 1. Tele calling by sales person is yet to be explored by the public sector banks. 2. Personal Selling/Personal Contact is yet to be explored by public sector banks.

S.L. Gupta "Comparative study of promotional strategies adopted by public and private sector banks in India". Asia-Pacific Business Review. 18 Oct, 2010.

: MARKET RESEARCH IN INDIAN BANKS After enquiring with all the public and 14 private sector banks whether they had undertaken any market research studies. The following board areas of market research were considered for the study: (a)New service development, (b)New service product acceptance, (c)Research and development of existing financial service, (d)Bank images study, (e)Measuring banks advertising effectiveness, (f)Measurement of market potentials, (g)Market research of competitive service products, (h)Customers opinion study, (i)Customer profile study, and (j)Market share analysis

: Advertising analysis in print media over the year.. According to the analysis report produced by Media4exchange in 2006, the public sector banks print advertising in jan-aug 06 grew over 10% :According to TAM media research AdEx India the banking, finance and investment sector increased by 60% during the first half of 2010.